Title Loans in Fort Bliss, Texas
Did you ever wonder why people get title loans? Here at Loan Cheetah, we have heard hundreds of different reasons why a person needs a title loan. But, some are far more common than others. Here are just a few of the top reasons for title loans El Paso borrowers tell us.
- Moving expenses
- Deposits on new apartment
- Appliance repair/replacement
- Vehicle repairs
- Funeral expenses
- Medical expenses
Now, you don’t have to tell us what you are going to do with the money you receive from a title loan. That is one of the benefits of this type of loan. Of course, there are plenty of others, including:
- No credit check
- No income verification
- Flexible repayment terms
- Up to 180 days to repay the loan
- Drive your car while the loan is active
Now, let’s talk about how to apply for a title loan next.
How Do You Apply for Title Loans in Fort Bliss?
If you try to apply for a traditional loan, you are going to be in a red-tape nightmare. You have to give them all your personal information, financial information, and job information. Someday, they will likely ask for a DNA sample as well, though it hasn’t come to that yet.
With a title loan, things are much simpler. You will need to provide some information about your car and some basic information about yourself. That’s it. Here is a list of requirements for title loans to get you started:
- Year, Make, Model, Style and Mileage of the car
- Name, Email Address, Phone number and Zip Code
You put that information in to our easy-to-use form and hit submit. Within just a few seconds, you will get a quote for how much we are willing to let you borrow against your car’s title. That quote is based on the fair market value of the car, according to the information you provided.
A short time after you submit the form, you will receive a phone call from one of our loan specialists. That person will go over your application and get a few more details. You are welcome to ask the rep any questions you might have about the loan or the process.
When you want to get your cash, all you need to do is come into one of our offices. We will review the loan documents with you and let you sign on the bottom line. Then you can walk out with cash in hand.
Unsecured Vs. Secured: Title Loans in Fort Bliss
A common question we get here at Loan Cheetah is “What kind of loan is a title loan? Secured or unsecured?”.
A title loan is a secured loan. A secured loan is one that is secured by a valuable asset, usually called collateral. In the case of a title loan, the valuable asset is the car. For the borrower to receive the loan, he or she must be willing to turn over the title to the vehicle in exchange for the loan. When the loan is repaid, the lender will return the title immediately.
Now, if the borrower is unable to pay back the loan in the required time line, the lender has the option of repossessing the vehicle. Then, the lender will sell the vehicle to recoup the remaining amount owed on the loan.
Most lenders do not want to repossess a borrower’s vehicle. That is why the lender works to find the right repayment options for the borrower. They want the loan to end successfully with full repayment and a returned title.
If you want to learn more about title loans in Fort Bliss, give us a call today.
